Scotland Corporation had net income for 2018 of $74,000. Scotland had 6,000 shares of common stock outstanding at the beginning of the year and 25,000 shares of common stock outstanding at the end of the year. There were 12,000 shares of preferred stock outstanding all year. During2018, Scotland declared and paid preferred dividends of $26,000. What isScotland's earnings pershare? (Round the answer to two decimalplaces.)

A. 1.92

B 3.10

C 4.77

D 2.96

A corporation originally issued $13.00 par value common stock for $14.00 per share. Which of the following is included in the entry to record the purchase of 400 shares of treasury stock for $20.00 pershare?

A Treasury StockCommon is debited for $4,000.

B Treasury StockCommon is debited for $8,000.

C. Treasury StockCommon is credited for $56.

D. Retained Earnings is debited for $4,000.